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NCLAT Dismisses Appeal Against Liquidation Order in Insolvency Case — Appellant Failed to Show Viable Revival Plan or Error in Impugned Order. Corporate Debtor's Liquidation Upheld as No Resolution Plan Was Received and Appellant's Offer Was Not a Valid Plan Under IBC.

The case involves an appeal filed by P. Naveen Chakravarthy (the appellant) against an order dated 27.01.2021 passed by the Adjudicating Authority (Na...

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High Court Allows Writ Petition, Quashes DRAT Order Imposing Pre-deposit on Tenant Under SARFAESI Act -- Petitioner, Neither Borrower Nor Guarantor, Not Required to Deposit 40% for Appeal -- Appeal Revived and Restored for Merits Consideration Without Pre-deposit

The Petitioner, a tenant in a redeveloped building, challenged an order of the Debt Recovery Appellate Tribunal, Mumbai (DRAT, Mumbai) that required h...

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Supreme Court Sets Aside High Court Order for Release of Secured Asset on Partial Payment Under SARFAESI Act. The court held that Section 13(8) of the SARFAESI Act, 2002 requires full payment of dues for redemption, and partial payment does not entitle the borrower to reclaim the property.

The dispute arose between a bank, as secured creditor, and a borrower over the enforcement of security interest under the Securitisation and Reconstru...

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Supreme Court Sets Aside High Court Order Waiving Predeposit for Appeal Under SARFAESI Act. Mandatory Deposit Under Section 18 Cannot Be Waived Even by High Court Under Article 226.

The Supreme Court considered appeals against the Bombay High Court's order dated 25.11.2019 and 16.12.2019, which had relegated the appellant (Union B...

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Bombay High Court Upholds DRAT Order Requiring 25% Pre-deposit for Waiver of Appeal Under SARFAESI Act. Legal Heirs of Guarantor Must Deposit 25% of Section 13(2) Notice Amount as Condition for Hearing Appeal on Merits.

The petitioners, Smt. Julie Amitabh Parekh and others, who are the legal heirs of the deceased guarantor Amitabh Arun Parekh, filed a writ petition ch...

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Bombay High Court Upholds DRAT Order Requiring 75% Deposit Under Section 21 of RDB Act in Debt Recovery Appeal — No Waiver Granted as Petitioner Failed to Establish Prima Facie Case or Financial Hardship.

The petitioner, M/s. Sterlite Technologies Ltd., filed a writ petition under Article 226 of the Constitution challenging an order of the Debts Recover...